Hire and Rental News - May 2018

INDUSTRY in FOCUS 28 HIRE AND RENTAL NEWS • MAY 2018 ichael said the construction market can expect to see tech designed to increase safety, efficiency and productivity on construction and mining sites entering the market. “The 2017 Digital Foundations report (https://startupaus.org/document/ constructiontech/) estimates digitisation in the Australian construction sector could create $25billion in savings year on year within the next decade and a huge market opportunity has led to an upswing in global digitisation in the construction industry. Michael said four technology trends poised to disrupt the construction industry in 2018 include: 1. Internet of Things (IoT) The IoT refers to any object connected to the internet. This can include machines with sensors that obtain data or use GPS tracking. The benefits of integrating IoT into construction equipment include financial return such as increased billing accuracy and saving time, as well as greater safety of workers, through enhanced tracking and monitoring. VisionLink is one example of the IoT transforming the construction sector. A joint venture between Trimble and Caterpillar, it integrates tracking and management software into Caterpillar machines, which is shared with PlantMiner customers to create access to real time equipment information wirelessly from the field; 2. Artificial Intelligence (AI): AI has been gaining traction in a wide range of industries, from chat bots handling customer service requests to virtual personal assistants such as Siri. In the construction industry, smarter machines are being developed to save costs and improve accuracy through AI. Construction tech utilising AI will help Technology will shake up the construction market in 2018 Disruption from technological advancements is spreading across industries from retail and transport to health and education and now the construction industry is on the verge of digital disruption too, according to PlantMiner co-CEO and co-Founder, Michael Trusler. develop smarter sites, such as by harnessing data from projects to forecast budgets and resources for future projects; 3. Drones/ Unmanned Aerial Vehicles Drones are becoming commonplace on construction sites, typically for monitoring projects and surveying. However, as drones incorporate AI they are becoming more useful and can instantly share data and analytics from a remote site to other locations. Sharing site progress with relevant stakeholders in different locations helps reduce travel costs, saves time and can again improve site safety through monitoring potential hazards; 4. Digital marketplaces Digital disruption has had a great impact on traditional labour roles, with sites such as Airtasker and Uber opening doors to employment and empowering consumers with greater choice of suppliers. Digital marketplaces designed specifically for the construction industry are helping tradespeople, suppliers and managers find the right tools and support. “While adapting to new technology is often a steep learning curve and can require large initial investments in time and resources, the investment pays off through efficiencies and new opportunities,” Michael said. “The construction sector has often been slow to embrace new technology, which puts many local businesses at risk of losing business to competitors who can offer advanced solutions. The increase of technology in the construction sector doesn’t mean the end of the workforce, but creates opportunities for people to learn new skills and be more flexible in how they perform their jobs. Australia is on the verge of an exciting new time in construction and 2018 will see the integration of technology create greater efficiencies and heightened safety.” Visit: www.plantminer.com.au “...four technology trends poised to disrupt the construction industry in 2018..." M